Converting a rental building
The conversion of a rental building into divided co-ownership is governed by special rules that vary according to the location of the building and the nature of the project contemplated. Before undertaking such steps, it is essential to check with the municipality concerned whether the conversion is authorized and what conditions must be met.
Transforming a building into divided co-ownership often involves several legal and administrative steps, including obtaining the required authorizations, preparing the declaration of co-ownership and respecting the rights of the occupants.
Special rules may also apply when the building is occupied by tenants or when it already belongs to several undivided co-owners. The rights and obligations of the owner, of the future syndicate of co-owners and of the occupants must then be carefully taken into consideration.
Since the consequences of a conversion can be significant for both the owner and the occupants, a prior analysis of the project is essential. The notary can advise you on its feasibility, the required authorizations and the steps to take in order to ensure that it complies with the applicable rules.
